MANU/RMIC/0086/2022
Ministry : Reserve Bank of India
Department/Board : Department of Regulation
Circular No. : DOR.RET.REC.33/12.01.001/2022-2023
RBI/2022-2023/46
Date : 04.05.2022
Notification/ Circulars Referred : Circular DOR.No.Ret.BC.35/12.01.001/2020-21 dated February 05, 2021 MANU/RMIC/0014/2021;Notification DOR.RET.REC.34/12.01.001/2022-23 dated May 04, 2022 MANU/RMIC/0087/2022;Notification DOR.No.Ret.BC.38/12.01.001/2020-21 dated February 05, 2021 MANU/RMIC/0154/2021
Citing Reference:
Circular DOR.No.Ret.BC.35/12.01.001/2020-21 dated February 05, 2021 MANU/RMIC/0014/2021 Referred
Notification DOR.RET.REC.34/12.01.001/2022-23 dated May 04, 2022 MANU/RMIC/0087/2022 Referred
Notification DOR.No.Ret.BC.38/12.01.001/2020-21 dated February 05, 2021 MANU/RMIC/0154/2021 Referred
All Banks
Madam/Sir,
Maintenance of Cash Reserve Ratio (CRR)
1. Please refer to our circular DOR.No.Ret.BC.35/12.01.001/2020-21 dated February 05, 2021 and relative notification on the captioned subject.
2. As announced in the
Governor's Statement dated May 04, 2022, it has been decided to increase the Cash Reserve Ratio (CRR) of all banks by 50 basis points from 4.00 percent to 4.50 percent of their Net Demand and Time Liabilities (NDTL), effective from the reporting fortnight beginning May 21, 2022.
3. A copy of the relative notification DOR.RET.REC.34/12.01.001/2022-23 dated May 04, 2022 is
enclosed.
Yours faithfully,
(Prakash Baliarsingh)
Chief General Manager
DOR.RET.REC.34/12.01.001/2022-2023
May 04, 2022
NOTIFICATION
In exercise of the powers conferred under the sub-section (1) of Section 42 of the Reserve Bank Act, 1934 and sub-section (1) of Section 18 of the Banking Regulation Act, 1949 (10 of 1949) read with section 56 thereof, and in partial modification of the earlier notification DOR.No.Ret.BC.38/12.01.001/2020-21 dated February 05, 2021, the Reserve Bank of India hereby notifies that the average Cash Reserve Ratio (CRR) required to be maintained by every bank shall be 4.50 per cent of its net demand and time liabilities effective from the reporting fortnight beginning May 21, 2022.
(Jayant Kumar Dash)
Executive Director